Student Loan Shenanigans! Even I, Lara Croft, Am Baffled by This Financial Tomb Raider-y!

A Letter and a Legacy of Lies?

Right so imagine my surprise when I stumbled upon this rather… sticky situation. Seems our friend Ellie Bruecker received a 'friendly' notice from Mohela stating that interest continues to accrue on her student loans during the forbearance period. Now correct me if I'm wrong but didn't the U.S. Department of Education promise that interest wouldn't accrue? 'We must find the truth,' as I always say and this truth smells fishier than a week old mummy's lunch. It's like finding a hidden chamber only to discover it's filled with bureaucratic red tape instead of gold. Seriously it's enough to make you want to raid a tomb just for the peace and quiet.

$3,000 of Unexpected 'Savings'?

Apparently Ellie's debt has grown by a whopping $3,000 during this 'Saving on a Valuable Education' (SAVE) reprieve. 'My eyes bugged out of my head,' she said. Mine would too if I found an extra three grand attached to my bills – I mean besides the usual costs of globetrotting and artifact acquisition. The problem is she's not alone. Other borrowers are echoing her concerns on social media creating a digital chamber of echoes filled with frustration. It's like they're trapped in a never ending puzzle box and the solution is nowhere in sight.

Advocacy and Acrobatics – Both Required

Here's the kicker: Ellie works at The Institute for College Access & Success. Talk about irony! If she's struggling to navigate this mess what about the average borrower who doesn't know the difference between a promissory note and a priceless artifact? 'Will they resolve this for everyone or just those who get them on the phone and are loud about it?' she wonders. It's a fair question. It shouldn't require a combination of Indy's whip and my climbing skills to get a straight answer from these people!

Check Your Loot I Mean Loans!

So what's the official stance? Well the Education Dept. didn't exactly jump at the chance to clarify things. Mohela on the other hand posted a notice claiming it's 'not a bill and no action is necessary.' Right because receiving a notice about accruing interest when you were promised otherwise is just a casual everyday occurrence. Mark Kantrowitz suggests borrowers check their loan history. If your debt has mysteriously grown since July 2024 'they should contact MOHELA,' he says. Easier said than done I suspect. Getting through to them might require more persistence than deciphering ancient hieroglyphs.

A Department in Disarray

Ellie tried contacting Mohela but spent hours on the phone without reaching anyone. Reminds me of those times I've been trapped in a tomb with no signal. And to make matters worse the Trump administration has reportedly terminated a chunk of the Education Department's staff. 'With the level of dysfunction at the Education Department right now I have a real distrust this is going to get resolved for people,' Ellie laments. It's a valid concern. Looks like we're dealing with a 'bottomless pit' of bureaucracy.

My Two Drachmas on This Debacle

Honestly this whole situation is a bigger mess than a poorly excavated dig site. My advice? 'Don't be afraid to get your hands dirty.' Check your loan details be persistent and don't let these financial tomb raiders get away with adding interest that shouldn't be there. And if all else fails well I hear there's a certain artifact in Egypt that can reverse all kinds of misfortune… (Disclaimer: I'm joking. Mostly.)